High court to rule on couple’s bid to strike out repo order

The High Court will today rule on a couple’s bid to strike out repossession proceedings brought against them by a subprime lender, Home Funding Corporation Ltd. 

The couple say the company claims €1.4m is due on foot of an IR£40,000 loan taken out in 1997.

John and Shelia Nolan, Tallaghan, Ballinagare, Casterea, Co Roscommon, in 1997 entered into a mortgage agreement with Wise Mortgage Company Ltd. The £40,000 loan was to be repaid over 15 years via monthly repayments of £552, amounting to a total of £99,399.